What Is Play-To-Earn, and How To Get Started?
When Satoshi Nakamoto created Bitcoin, the world’s first decentralized digital currency, he or she wasn’t thinking about gaming. Yet, today, more than 10 million people are using crypto to play games. This might sound a bit confusing if you’re new to crypto and blockchain technology. How can you earn money by playing games? Is it possible to make a living from playing video games? Let’s have a closer look at what is play-to-earn (or P2E gaming).
Play-to-earn game is a game that has an earning mechanic in its design.
With play-to-earn games, people can create their own economy and make additional income through games.
In these games, you can earn money by playing the game and participating in its economy. These types of games are already becoming popular and have the potential to be one of the most important forms of online entertainment ever created. Most of these games are blockchain based and operate with cryptocurrency.
Today, there are more than 10 million crypto wallets with over $200 billion in crypto assets.
In general, play-to-earn feels like traditional gaming with a few key differences:
- Players create their own economies by buying and selling in-game items
- Consistency and strategy are required to benefit
- Game design contains elements of investing
- Community is of paramount importance
It might be hard to wrap your head around because this kind of game isn’t something that we have had before. Play-to-earn games are essentially like having a side job, except instead of getting paid at the end of the month, you earn money as you play — and maybe even more than other jobs would pay.
It’s possible to earn up to a few dollars a day just by playing the games you love!
It sounds like a dream come true! But there is no magic button that will make it all happen for you: You still have to put in some effort to get started and learn how the game works. So let’s take a look at what’s involved.
How to start play-to-earn?
To begin your journey in the play-to-earn environment you’ll need to:
- Choose the game to play — one of the best places to go through the list of the most popular games and get a feeling of how they compare are resources like DappRadar.
- Get a crypto wallet — depending on the game you chose, you will need a matching wallet to hold your assets.
- Buy some cryptocurrency that the game accepts.
- Figure out the game’s environment and tokenomics
- Select your first asset and start gaming
What excites us is that games are the key to getting a lot of people to adopt blockchain and crypto for the first time.
With this new type of games, we’re able to tap into the massive gamer base and bring them into the world of crypto. This is important because it means that we can introduce a whole new generation of people to cryptocurrency before they even learn about Bitcoin or Ethereum.
The next big thing in gaming might just be play-to-earn, but don’t take our word for it — try playing yourself!